COMAIR LIMITED - Notices to Creditors and Employee Representatives

Notices to Creditors and Employee Representatives

Comair Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1967/006783/06)
ISIN: ZAE00002983
Share Code: COM
(“Comair” or “the Company”)

NOTICES TO CREDITORS AND EMPLOYEE REPRESENTATIVES REGARDING THE
FIRST MEETINGS OF CREDITORS AND EMPLOYEE REPRESENTATIVES IN RESPECT
OF THE BUSINESS RESCUE PROCEEDINGS OF COMAIR LIMITED (IN BUSINESS
RESCUE)

1       Shareholders are referred to the announcements issued on SENS on 5 May 2020 and
        8 May 2020 wherein they were advised that the Company was placed in business
        rescue, and Shaun Collyer and Richard Ferguson were appointed as the business
        rescue practitioners of the Company.

2       Shareholders are hereby advised that in accordance with the relevant sections of the
        Companies Act 71 of 2008 ("Companies Act") notice has been given to all creditors
        and employee representatives that the first meeting of creditors and the first meeting of
        employee representatives, in respect of the business rescue proceedings of the
        Company (“the Meeting”), will be convened 19 May 2020.

3       For more information on these meetings, please see the statutory notices tab on the
        Comair    website,   Business Rescue section:       https://www.comair.co.za/business-
        rescue/statutory-notices

Per: Shaun Collyer and Richard Ferguson (Comair Limited's joint Business Rescue
Practitioners)

Bonaero Park
15 May 2020

Sponsor
PSG Capital

IMPORTANT NOTICE TO FOREIGN SHAREHOLDERS AND PROSPECTIVE INVESTORS

FOREIGN SHAREHOLDERS AND PROSPECTIVE INVESTORS IN COMAIR LIMITED (“COMAIR”) SHOULD
NOTE THAT, IN ORDER TO ENABLE COMAIR (AS A LICENSED AIR SERVICES OPERATOR IN SOUTH
AFRICA) TO REMAIN COMPLIANT WITH THE FOREIGN OWNERSHIP RESTRICTION CONTAINED
SECTIONS 16(4)(c) AND 19(a) OF THE AIR SERVICES LICENSING ACT, NO. 115 OF 1990, THE VOTING
RIGHTS OF FOREIGN SHAREHOLDERS MAY BE DECREASED PROPORTIONATELY SUCH THAT THE
VOTING RIGHTS OF FOREIGN SHAREHOLDERS DO NOT, IN AGGREGATE, EXCEED 24.99%. FOREIGN
SHAREHOLDERS AND PROSPECTIVE INVESTORS ARE REFERRED TO THE COMAIR’S MEMORANDUM
OF INCORPORATION AND WEBSITE (www.comair.co.za) FOR FURTHER DETAILS. IF FOREIGN
SHAREHOLDERS OR PROSPECTIVE INVESTORS ARE IN ANY DOUBT AS TO WHAT ACTION TO TAKE
THEY SHOULD SEEK ADVICE FROM THEIR BROKER, ATTORNEY OR OTHER PROFESSIONAL ADVISER.

Date: 15-05-2020 04:00:00
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